Legal Question in Real Estate Law in Florida

Re: real estate

It depends on whether or not you signed the promissory note (the document that says you agree to repay the money) as to whether you will be financially obligated. If the bank forecloses, and you didn't sign the note, they can't come after you for the amount due. However, if you signed the mortgage (a separate document from the note) you may be named party in the foreclosure suit, but with no financial liability (again, assuming you did not sign the promissory note). In spite of what I wrote above, you may still need to hire an attorney to make sure the bank doesn't try to say you are financially liable.